Target Corp. Q1 Profit Increases, But Misses Estimates

(RTTNews) - Target Corp. (TGT) announced a profit for its first quarter that increased from last year but missed the Street estimates.

The company's earnings came in at $1.036 billion, or $2.27 per share. This compares with $942 million, or $2.03 per share, last year.

Excluding items, Target Corp. reported adjusted earnings of $1.30 per share for the period.

Analysts on average had expected the company to earn $1.65 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 2.8% to $23.846 billion from $24.531 billion last year.

Target Corp. earnings at a glance (GAAP) :

-Earnings: $1.036 Bln. vs. $942 Mln. last year. -EPS: $2.27 vs. $2.03 last year. -Revenue: $23.846 Bln vs. $24.531 Bln last year.

-Guidance: Full year EPS guidance: $7.00 - $9.00